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price and convenience for customers. It is very important to us. Change is all around and it is getting faster and faster.”

“And, we strongly believe that future is a combination of having very good technology and really great people,” she said, adding that the partnership between technology and people makes difference for customers.

Speaking about the readiness of customers, Murphy says many customers were not ready to use automated teller machines during the initial days.

“Sometimes, it is push and pull.”

“You need to build the technology. You need to help companies understand how it brings value to their business. You need to make it easy to use.”

“You also need to give customers a reason to use it. That reason might be price and might be easier and secure for their companies.”

HSBC has introduced a trade transaction tracker in Bangladesh, enabling businesses to track the whereabouts of goods.

The bank, which has fully automated 96 per cent of its payments, has digitalised Unilever Bangladesh’s supply chain finance, making doing business easier for customers as well as suppliers.

Murphy says supply chains account for 80 per cent of the planet’s carbon emissions, so developing a sustainable production network is one of the most important levers for banks and businesses on the net-zero transition.

“HSBC wants to encourage companies throughout the supply chain to focus on sustainability, as we have seen how this sparks innovation and generates value.”

HSBC has kept investing in digitalising trade to support its clients with faster, safer and easier transactions.

“We would like to play the leading role in the digital transformation that the country’s financial services are experiencing.”

Murphy is upbeat about Bangladesh’s economic advancement and calls the country a very important market for the bank.

“We know there is a fast-growing, stable market, and there is an abundance of entrepreneurial spirit. Those entrepreneurs are some of the biggest established names but there are also a number of smaller companies coming up. They will be the big names tomorrow.”

“I think it is a good place to do business.”

Bangladesh’s large population, now nearly 17 crore, and the growing purchasing power are making the country attractive to international companies.

As the local economy continues to grow, the bank anticipates an increased international movement of people in and out of Bangladesh, where payments processing are becoming more digitalised, more wealth is being created, and domestic consumption is growing.

“Bangladesh is becoming increasingly integrated into the global economy as import, export and remittances increase. I think that’s a good sign for Bangladesh,” said Murphy.

The multinational bank looks to continue financing sectors such as infrastructure, construction, consumer electronics, e-commerce, IT, and digital.

Consumer goods and consumer durables are expected to become more prominent as the middle class expands. And Murphy describes the change in healthcare as interesting.

“As people have a little more money in their pocket, they can afford healthcare. I don’t think we can underestimate e-commerce and technology. Digital will become even more part of our life.”

HSBC supported the launch of Bangladesh’s first communications satellite, Bangabandhu Satellite-1, in 2018. The following year, it financed Bangladesh’s largest urea fertiliser manufacturing plant.

In the aftermath of business losses caused by the coronavirus pandemic, the bank provided a 90-day extension of import liability for delays in shipments.

It extended short-term loans to help clients pay wages and overheads, particularly for the clients in the textile and apparel sector, during the period.

Since her first visit to Dhaka nearly a decade ago, banks in Bangladesh have improved significantly, Murphy says.

“The regulations have improved. The understanding of how to regulate the financial sector has improved.”

“We all understand banks have a role to play, in partnership with the government and the private sector, to help bring prosperity. That is why I think the longevity of a bank in a country is important.”